Aggrieved Blackshield Fund customers demand dismissal of SEC boss

Source The Ghana Report/Gloria KAFUI Ahiable

Some aggrieved customers of defunct Blackshield Fund Management company, previously called Gold Coast Fund Management, are demanding the dismissal of the Director-General of the Securities and Exchange Commission (SEC), Rev Daniel Ogbamey Tetteh.

The group argues the head of the commission has been negligent in delivering on its mandate hence their call for his dismissal.

The aggrieved customers at a press conference on Tuesday accused the Akufo-Addo government and the Commission of shielding Dr Papa Kwesi Nduom, Chief Executive Officer of the collapsed financial institution despite identifying some alleged suspicious activities the latter was engaged in.

Spokesperson for the aggrieved customers, Peter Nyame reiterated Rev Ogbamey Tetteh should be sacked immediately.

“He has failed in the performance of his statutory obligations. Based on his recent comments in the media, it shows that he has refused to accept responsibility for the current crises which amount to relinquishing his duty, ” the spokesperson said with stern nodding from other customers.

The SEC revoked the licenses of some 53 fund management companies which according to them is to protect the integrity of the securities market and investors.

Customers of Gold Coast Fund Management ,now Black Shield Fund Management, say the government  failed to respond to their  petition to help them retrieve their locked up monies from the embattled investment firm.

The disgruntled customers have already embarked on a series of protests to push for the government’s intervention in retrieving their funds from Black Shield Fund Management.

The group further called on the government to put in some immediate measures to ensure their funds are retrieved.


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